Flag Theory Pillar Content

Open a Bank Account in Singapore

$850.00

Singapore is one of the largest financial centers and a top offshore banking destination due to its political and financial stability, its top-notch corporate banking facilities and its broad-range of wealth management services, investment funds, and insurance products.

In addition, Singapore is one of the most reputed international financial centers whose banks consistently onboard companies incorporated in tax-neutral jurisdictions.

However, banks will want to see a solid and legit business backing the company. Offshore companies will need to provide enough supporting business documentation such as business plans, invoices, contracts, letters of intent, etc. to satisfy the bank’s compliance requirements.

Singapore banks are ideal for businesses that require strong transactional banking and cash management services. Companies banking in Singapore have access to some of the quickest and most affordable money transfer services.

Import/Export companies will have access to top trade finance services such as Letter of Credit and Bank guarantees.

Singaporean banks are considerably risk-averse and are not open for companies engaging in high-risk business activities.

An oasis of financial stability together with the most technologically advanced private banking facilities, excellent customer service and a capital gains tax-free environment makes Singapore the top Asia-Pacific destination for international wealth management services.

Description

We can help you open business and personal accounts with the largest banks in Singapore. Accounts are available for both resident and non-resident companies and individuals. We work with 6 different banks in Singapore. Each bank has different eligibility requirements, types of accounts available and onboarding processes. We invite you to carefully review each banks requirements and services to better understand if their banking services meet your needs:

Our banking support service is not just a mere introduction to the bank. We assist you in filling out the business questionnaires appropriately and help you understand and provide business details, commercial information and purpose/use of the bank account that a given bank wants to know in order to approve your account application. Banks want certainty and clarity on how the account will be used. Everything must be watertight. We will work with you to make sure there is minimal ‘back and forth’ and a smooth account opening process.

There are no specific restricted jurisdictions other than those that face international sanctions. A Business connection with Asia is oftentimes required. Foreign companies engaging in high-risk businesses and/or conducting an activity which is regulated in Singapore (such as Money transmitter or Forex trading) are not eligible. There are no requirements in terms of business turnover or business size

Onboarding Process (3 to 4 weeks; Personal Visit Required)

We will assist you in filling out the KYC and Business Questionnaires. In addition to your company and identity documents, you will need to provide certain business documentation to support your application such as invoices, letters of intent, contracts, etc.

The Bank’s Relationship Manager will review your documentation. The banker may come back with additional questions or give green-light to your account opening process. This usually takes from 1 to 3 days.

We will arrange your appointment with the Relationship Manager in Singapore. The appointment is usually arranged for the following week subject to the client and bankers availability.

You will need to visit the Bank’s branch and have a 1-hour meeting with the Relationship Manager. You will need to provide original documents and sign the application forms. The relationship manager will provide you the Internet Banking SecureToken Device, which will be activated upon the account opening.

After two or three weeks, you will receive an SMS confirming the account opening and providing your account number. You will need to transfer the initial deposit (SGD 30,000).

We will assist you in filling out the KYC and Business Questionnaires. In addition to your company and identity documents, you will need to provide certain business documentation to support your application such as invoices, letters of intent, contracts, etc.

The Bank’s Relationship Manager will review your documentation. The banker may come back with additional questions or give green-light to your account opening process. This usually takes from 1 to 3 days.

We will arrange your appointment with the Relationship Manager in Singapore. The appointment is usually arranged for the following week subject to the client and bankers availability.

You will need to visit the Bank’s branch and have a 1-hour meeting with the Relationship Manager. You will need to provide original documents and sign the application forms. The relationship manager will provide you the Internet Banking SecureToken Device, which will be activated upon the account opening.

After two or three weeks, you will receive an SMS confirming the account opening and providing your account number. You will need to transfer the initial deposit (SGD 3,000).

There are no specific restricted jurisdictions other than those that face international sanctions. A Business connection with Asia is oftentimes required. Foreign companies engaging in high-risk businesses and/or conducting an activity which is regulated in Singapore (such as Money transmitter or Forex trading) are not eligible. There are no requirements in terms of business turnover or business size

Onboarding Process (3 to 4 weeks; Personal Visit Required)

We will assist you in filling out the KYC and Business Questionnaires. In addition to your company and identity documents, you will need to provide certain business documentation to support your application such as invoices, letters of intent, contracts, etc.

The Bank’s Relationship Manager will review your documentation. The banker may come back with additional questions or give green-light to your account opening process. This usually takes from 1 to 3 days.

We will arrange your appointment with the Relationship Manager in Singapore. The appointment is usually arranged for the following week subject to the client and bankers availability.

You will need to visit the Bank’s branch and have a 1-hour meeting with the Relationship Manager. You will need to provide original documents and sign the application forms. The relationship manager will provide you the Internet Banking SecureToken Device, which will be activated upon the account opening.

After two or three weeks, you will receive an SMS confirming the account opening and providing your account number. You will need to transfer the initial deposit (SGD 30,000).

We will assist you in filling out the KYC and Business Questionnaires. In addition to your company and identity documents, you will need to provide certain business documentation to support your application such as invoices, letters of intent, contracts, etc.

The Bank’s Relationship Manager will review your documentation. The banker may come back with additional questions or give green-light to your account opening process. This usually takes from 1 to 3 days.

We will arrange your appointment with the Relationship Manager in Singapore. The appointment is usually arranged for the following week subject to the client and bankers availability.

You will need to visit the Bank’s branch and have a 1-hour meeting with the Relationship Manager. You will need to provide original documents and sign the application forms. The relationship manager will provide you the Internet Banking SecureToken Device, which will be activated upon the account opening.

After two or three weeks, you will receive an SMS confirming the account opening and providing your account number. You will need to transfer the initial deposit (SGD 3,000).

There are no specific restricted jurisdictions other than those that face international sanctions. A Business connection with Asia is oftentimes required. Foreign companies engaging in high-risk businesses and/or conducting an activity which is regulated in Singapore (such as Money transmitter or Forex trading) are not eligible. There are no requirements in terms of business turnover or business size.

Onboarding Process (3 to 4 weeks; Personal Visit Required)

We will assist you in filling out the KYC and Business Questionnaires. In addition to your company and identity documents, you will need to provide certain business documentation to support your application such as invoices, letters of intent, contracts, etc.

The Bank’s Relationship Manager will review your documentation. The banker may come back with additional questions or give green-light to your account opening process. This usually takes from 1 to 3 days.

We will arrange your appointment with the Relationship Manager in Singapore. The appointment is usually arranged for the following week subject to the client and bankers availability.

You will need to visit the Bank’s branch and have a 1-hour meeting with the Relationship Manager. You will need to provide original documents and sign the application forms.

After two or three weeks, you will receive an SMS confirming the account opening and providing your account number. You will need to transfer the initial deposit.

We will assist you in filling out the KYC and Business Questionnaires. In addition to your company and identity documents, you will need to provide certain business documentation to support your application such as invoices, letters of intent, contracts, etc.

The Bank’s Relationship Manager will review your documentation. The banker may come back with additional questions or give green-light to your account opening process. This usually takes from 1 to 3 days.

We will arrange your appointment with the Relationship Manager in Singapore. The appointment is usually arranged for the following week subject to the client and bankers availability.

You will need to visit the Bank’s branch and have a 1-hour meeting with the Relationship Manager. You will need to provide original documents and sign the application forms.

After two or three weeks, you will receive an SMS confirming the account opening and providing your account number. You will need to transfer the initial deposit.

Individuals resident or nationals from high-risk jurisdictions are not eligible. US individuals are eligible but the account will be restricted to cash management, FOREX, and term-deposits.

Onboarding Process (1 week; Personal Visit Required)

We will assist you in filling out the KYC Questionnaires.

The Bank’s Relationship Manager will review your documentation. The banker may come back with additional questions or give green-light to your account opening process. This usually takes from 1 to 3 days.

We will arrange your appointment with the Relationship Manager in Singapore. The appointment is usually arranged for the following week subject to the client and bankers availability.

You will need to visit the Bank’s branch and have a 1-hour meeting with the Relationship Manager. You will need to provide original documents and sign the application forms.

Wealth Management Accounts are opened on the spot, you will receive your debit card, and your internet banking credentials will be set the same day.

There are no specific restricted jurisdictions other than those that face international sanctions. A Business connection with Asia is oftentimes required. Foreign companies engaging in high-risk businesses and/or conducting an activity which is regulated in Singapore (such as Money transmitter or Forex trading) are not eligible. There are no requirements in terms of business turnover or business size.

Onboarding Process (3 to 4 weeks; Personal Visit Required)

We will assist you in filling out the KYC and Business Questionnaires. In addition to your company and identity documents, you will need to provide certain business documentation to support your application such as invoices, letters of intent, contracts, etc.

The Bank’s Relationship Manager will review your documentation. The banker may come back with additional questions or give green-light to your account opening process. This usually takes from 1 to 3 days.

We will arrange your appointment with the Relationship Manager in Singapore. The appointment is usually arranged for the following week subject to the client and bankers availability.

You will need to visit the Bank’s branch and have a 1-hour meeting with the Relationship Manager. You will need to provide original documents and sign the application forms.

After two or three weeks, you will receive an SMS confirming the account opening and providing your account number. You will need to transfer the initial deposit.

We will assist you in filling out the KYC and Business Questionnaires. In addition to your company and identity documents, you will need to provide certain business documentation to support your application such as invoices, letters of intent, contracts, etc.

The Bank’s Relationship Manager will review your documentation. The banker may come back with additional questions or give green-light to your account opening process. This usually takes from 1 to 3 days.

We will arrange your appointment with the Relationship Manager in Singapore. The appointment is usually arranged for the following week subject to the client and bankers availability.

You will need to visit the Bank’s branch and have a 1-hour meeting with the Relationship Manager. You will need to provide original documents and sign the application forms.

After two or three weeks, you will receive an SMS confirming the account opening and providing your account number. You will need to transfer the initial deposit.

Individuals resident or nationals from high-risk jurisdictions are not eligible. US individuals are eligible but the account will be restricted to cash management, FOREX, and term-deposits.

Onboarding Process (1 week; Personal Visit Required)

We will assist you in filling out the KYC Questionnaires.

The Bank’s Relationship Manager will review your documentation. The banker may come back with additional questions or give green-light to your account opening process. This usually takes from 1 to 3 days.

We will arrange your appointment with the Relationship Manager in Singapore. The appointment is usually arranged for the following week subject to the client and bankers availability.

You will need to visit the Bank’s branch and have a 1-hour meeting with the Relationship Manager. You will need to provide original documents and sign the application forms.

Wealth Management Accounts are opened on the spot, you will receive your debit card, and your internet banking credentials will be set the same day.

There are no specific restricted jurisdictions other than those that face international sanctions. A Business connection with Asia is oftentimes required. Companies incorporated in tax-neutral jurisdictions are subject to higher requirements such as a minimum deposit of SGD 300,000 or Frequent Foreign Exchange (SGD 50,000 per transaction) or using Bank’s Trade Finance Services.

Foreign companies engaging in high-risk businesses and/or conducting an activity which is regulated in Singapore (such as Money transmitter or Forex trading) are not eligible. There are no requirements in terms of business turnover or business size.

Onboarding Process (2 to 3 weeks; Personal Visit Required)

We will assist you in filling out the KYC and Business Questionnaires. In addition to your company and identity documents, you will need to provide certain business documentation to support your application such as invoices, letters of intent, contracts, etc.

The Bank’s Relationship Manager will review your documentation. The banker may come back with additional questions or give green-light to your account opening process. This usually takes from 1 to 3 days.

We will arrange your appointment with the Relationship Manager in Singapore. The appointment is usually arranged for the following week subject to the client and banker availability.

You will need to visit the Bank’s branch and have a 1-hour meeting with the Relationship Manager. You will need to provide original documents and sign the application forms.

After one week, you will receive an e-mail from the Relationship Manager confirming the account opening and providing your account number. You will need to transfer the initial deposit.

The Bank’s Relationship Manager will review your documentation. The banker may come back with additional questions or give green-light to your account opening process. This usually takes from 1 to 3 days.

We will arrange your appointment with the Relationship Manager in Singapore. The appointment is usually arranged for the following week subject to the client and banker availability.

You will need to visit the Bank’s branch and have a 1-hour meeting with the Relationship Manager. You will need to provide original documents and sign the application forms.

Personal Accounts are opened on the spot, internet banking credentials will be set the same day and you will receive the debit card the same day. You may elect to pick up your SecureToken device after 5 business days or receive it in the mailing address provided.

There are no specific restricted jurisdictions other than those that face international sanctions. A Business connection with Asia is oftentimes required. Companies incorporated in tax-neutral jurisdictions are subject to higher requirements such as a minimum deposit of SGD 300,000 or Frequent Foreign Exchange (SGD 50,000 per transaction) or using Bank’s Trade Finance Services.

Foreign companies engaging in high-risk businesses and/or conducting an activity which is regulated in Singapore (such as Money transmitter or Forex trading) are not eligible. There are no requirements in terms of business turnover or business size.

Onboarding Process (2 to 3 weeks; Personal Visit Required)

We will assist you in filling out the KYC and Business Questionnaires. In addition to your company and identity documents, you will need to provide certain business documentation to support your application such as invoices, letters of intent, contracts, etc.

The Bank’s Relationship Manager will review your documentation. The banker may come back with additional questions or give green-light to your account opening process. This usually takes from 1 to 3 days.

We will arrange your appointment with the Relationship Manager in Singapore. The appointment is usually arranged for the following week subject to the client and banker availability.

You will need to visit the Bank’s branch and have a 1-hour meeting with the Relationship Manager. You will need to provide original documents and sign the application forms.

After one week, you will receive an e-mail from the Relationship Manager confirming the account opening and providing your account number. You will need to transfer the initial deposit.

The Bank’s Relationship Manager will review your documentation. The banker may come back with additional questions or give green-light to your account opening process. This usually takes from 1 to 3 days.

We will arrange your appointment with the Relationship Manager in Singapore. The appointment is usually arranged for the following week subject to the client and banker availability.

You will need to visit the Bank’s branch and have a 1-hour meeting with the Relationship Manager. You will need to provide original documents and sign the application forms.

Personal Accounts are opened on the spot, internet banking credentials will be set the same day and you will receive the debit card the same day. You may elect to pick up your SecureToken device after 5 business days or receive it in the mailing address provided.

There are no specific restricted jurisdictions other than those that face international sanctions. A Business connection with Singapore (Supplier or Client or Management) is oftentimes required.

Foreign companies engaging in high-risk businesses and/or conducting an activity which is regulated in Singapore (such as Money transmitter or Forex trading) are not eligible. There are no requirements in terms of business turnover or business size.

Onboarding Process (3 to 4 weeks; Personal Visit Required)

We will assist you in filling out the KYC Questionnaires. In addition to your company and identity documents, you will need to provide certain business documentation to support your application such as invoices, letters of intent, contracts, etc.

The Bank’s Relationship Manager will review your documentation. The banker may come back with additional questions or give green-light to your account opening process. This usually takes from 1 to 3 days.

We will arrange your appointment with the Relationship Manager in Singapore. The appointment is usually arranged for the following week subject to the client and bankers availability.

You will need to visit the Bank’s branch and have a 1-hour meeting with the Relationship Manager. You will need to provide original documents and sign the application forms.

After two or three weeks, you will receive an e-mail from the Relationship Manager confirming the account opening and providing your account number. You will need to transfer the initial deposit.

There are no specific restricted jurisdictions other than those that face international sanctions. A Business connection with Singapore (Supplier or Client or Management) is oftentimes required.

Foreign companies engaging in high-risk businesses and/or conducting an activity which is regulated in Singapore (such as Money transmitter or Forex trading) are not eligible. There are no requirements in terms of business turnover or business size.

Onboarding Process (3 to 4 weeks; Personal Visit Required)

We will assist you in filling out the KYC Questionnaires. In addition to your company and identity documents, you will need to provide certain business documentation to support your application such as invoices, letters of intent, contracts, etc.

The Bank’s Relationship Manager will review your documentation. The banker may come back with additional questions or give green-light to your account opening process. This usually takes from 1 to 3 days.

We will arrange your appointment with the Relationship Manager in Singapore. The appointment is usually arranged for the following week subject to the client and bankers availability.

You will need to visit the Bank’s branch and have a 1-hour meeting with the Relationship Manager. You will need to provide original documents and sign the application forms.

After two or three weeks, you will receive an e-mail from the Relationship Manager confirming the account opening and providing your account number. You will need to transfer the initial deposit.

There are no specific restricted jurisdictions other than those that face international sanctions. A Business connection with Singapore (Supplier or Client or Management) is oftentimes required.

Foreign companies engaging in high-risk businesses and/or conducting an activity which is regulated in Singapore (such as Money transmitter or Forex trading) are not eligible. There are no requirements in terms of business turnover or business size.

Onboarding Process (3 to 4 weeks; Personal Visit Required)

We will assist you in filling out the KYC Questionnaires. In addition to your company and identity documents, you will need to provide certain business documentation to support your application such as invoices, letters of intent, contracts, etc.

The Bank’s Relationship Manager will review your documentation. The banker may come back with additional questions or give green-light to your account opening process. This usually takes from 1 to 3 days.

We will arrange your appointment with the Relationship Manager in Singapore. The appointment is usually arranged for the following week subject to the client and bankers availability.

You will need to visit the Bank’s branch and have a 1-hour meeting with the Relationship Manager. You will need to provide original documents and sign the application forms.

After two or three weeks, you will receive an e-mail from the Relationship Manager confirming the account opening and providing your account number. You will need to transfer the initial deposit.

There are no specific restricted jurisdictions other than those that face international sanctions. A Business connection with Singapore (Supplier or Client or Management) is oftentimes required.

Foreign companies engaging in high-risk businesses and/or conducting an activity which is regulated in Singapore (such as Money transmitter or Forex trading) are not eligible. There are no requirements in terms of business turnover or business size.

Onboarding Process (3 to 4 weeks; Personal Visit Required)

We will assist you in filling out the KYC Questionnaires. In addition to your company and identity documents, you will need to provide certain business documentation to support your application such as invoices, letters of intent, contracts, etc.

The Bank’s Relationship Manager will review your documentation. The banker may come back with additional questions or give green-light to your account opening process. This usually takes from 1 to 3 days.

We will arrange your appointment with the Relationship Manager in Singapore. The appointment is usually arranged for the following week subject to the client and bankers availability.

You will need to visit the Bank’s branch and have a 1-hour meeting with the Relationship Manager. You will need to provide original documents and sign the application forms.

After two or three weeks, you will receive an e-mail from the Relationship Manager confirming the account opening and providing your account number. You will need to transfer the initial deposit.

We will assist you in filling out the KYC Questionnaires. You will need to provide scanned copies of your identity documents and proof of address.

The Bank’s Relationship Manager will review your documentation. The banker may come back with additional questions or give green-light to your account opening process. This usually takes from 1 to 3 days.

We will arrange your appointment with the Relationship Manager in Singapore. The appointment is usually arranged for the following week subject to the client and bankers availability.

You will need to visit the Bank’s branch and have a 1-hour meeting with the Relationship Manager. You will need to provide original documents and sign the application forms.

The Bank Account will be opened on the spot. You will receive your Bank Account details, Debit Card and Internet Banking credentials on the same day.

We will assist you in filling out the KYC Questionnaires. You will need to provide scanned copies of your identity documents and proof of address.

The Bank’s Relationship Manager will review your documentation. The banker may come back with additional questions or give green-light to your account opening process. This usually takes from 1 to 3 days.

We will arrange your appointment with the Relationship Manager in Singapore. The appointment is usually arranged for the following week subject to the client and bankers availability.

You will need to visit the Bank’s branch and have a 1-hour meeting with the Relationship Manager. You will need to provide original documents and sign the application forms.

The Bank Account will be opened on the spot. You will receive your Bank Account details, Debit Card and Internet Banking credentials on the same day.

We will assist you in filling out the KYC Questionnaires. You will need to provide certified copies of your identity documents and proof of address.

The Bank’s Relationship Manager will review your documentation. The banker may come back with additional questions or give green-light to your account opening process. This usually takes from 1 to 3 days.

Once the relationship manager has confirmed that your documents meet the bank’s requirements. You will be required to mail them to Singapore.

Once the bank receives the original certified copies of your documents, the relationship manager will proceed to open your account.

Once your account is opened you will receive your Bank Account details via SMS and a welcome e-mail from the bank. Debit Card and Internet Banking credentials will be sent via courier.

We will assist you in filling out the KYC Questionnaires. You will need to provide certified copies of your identity documents and proof of address.

The Bank’s Relationship Manager will review your documentation. The banker may come back with additional questions or give green-light to your account opening process. This usually takes from 1 to 3 days.

Once the relationship manager has confirmed that your documents meet the bank’s requirements. You will be required to mail them to Singapore.

Once the bank receives the original certified copies of your documents, the relationship manager will proceed to open your account.

Once your account is opened you will receive your Bank Account details via SMS and a welcome e-mail from the bank. Debit Card and Internet Banking credentials will be sent via courier.

Our banking support services include introductions to payment processors and merchant accounts to better support our e-commerce clients. Whether you just need standard credit card processing or specialized services for high-risk processing, we are happy to help you with introductions that can empower your business.

Bank Account opening requirements are subject to change at the discretion of the bank. There might be additional fees charged by the bank itself. Bank account opening is not guaranteed and is subject to the bank policies and compliance department. There might be restrictions on UBO nationalities, business activities and/or jurisdictions. A refund is guaranteed if the account is not successfully opened, but a 15% administrative fee applies.